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Canada’s Automotive Market

The automotive market in Canada varies from Province to Province and has traditionally offered opportunity, growth and saleable markets. There is some bad news for sales people and autotraders in Canada this year; sales are expected to decrease this year and in upcoming years as well, despite record sales numbers over the past 4 years or so.

Unfortunately, it is Ontario to blame for these numbers. Despite the increase in sales and numbers in the Western Provinces, Ontario’s numbers continue to decrease, and for a number of reasons that include insurance, housing and other expenses that are costing Ontarians more as well. The Atlantic and Quebec are also not in for any luck in their sales either.

As an autotrader, to keep margins afloat, prices have had to increase and therefore reducing the affordability of vehicles for many Canadians.

Some optimism can be found as Alberta rebuilds and re-strengthens its local economy and comes back into a period of prosperity.

It’s not just economics that are playing a role in the decline, especially in Ontario, it is production as well. With population increases (in the demographic of drivers), production costs and transportation costs associated have caused a decline in production. Ontario will have to find a way to offset this, as the automotive industry is a large part of its economy.

A number of factors are helping sales grow and remain steady in Quebec including low taxes, insurance, and leasing options.

BC is a less controversial location, with a strong and steady automotive market that is expected to remain the same based on economic forecasts and predictions.

As one can infer, Canada offers a diverse automotive market that presents a number of challenges and opportunities each year for autotraders and those in the automotive industry in Canada and internationally. It is a complex and ever changing market.